TORONTO, ONTARIO -- (Marketwired) -- 04/30/13 -- Lago Dourado Minerals Ltd. (TSX VENTURE: LDM), (the "Company") has completed the first diamond drill hole at the Arrastro Hills South East porphyry target at its flagship 100%-owned Juruena Project located in Mato Grosso, Brazil. Hole JRND068 was drilled vertically to a depth of 480m to test a strong muscovite alteration signature that corresponded with a major crosscutting fault structure and a deep seated IP anomaly. Drill core for the hole is being split and logged on site and will be shipped for fire assaying later this week.
Photographs of drill core from the top 200m of the hole are available at www.lagodourado.com (under Projects - Juruena - Drill Core Photos) and a schematic with the key geochemical and geophysical data, alteration data and drill hole locations at Arrastro Hills is provided in Figure A (http://media3.marketwire.com/docs/ldmfiga430.pdf). A brief geological summary of the hole is provided below:
-- 0 - 31m - Saprolite and transition zone from saprolite to fresh rock.-- 31 - 176m - Strongly altered fine-grained volcanic that is intruded by magnetite-rich fine to medium grain felsic and mafic porphyries. Mineralisation consists predominantly of finely disseminated sulfides and sulfide-filled fractures and veins. Sulfide-carbonate veins associated with minor brecciation are also present. Pyrite is the most dominant sulfide mineral observed and occurs in combination with chalcopyrite in places.-- 176 - 480m - Moderately altered fine-grained volcanics with minor felsic porphyries. Mineralisation below 176m is only weakly developed and consists of disseminated sulfides and thin sulfide-filled fractures.
Drilling productivity has significantly improved compared to the start of the year due to the easing of the wet season and Arrastro Hills South East being much more accessible than the central part of Arrastro Hills. The next hole planned at Arrastro Hills South East (JRND069) is approximately 500m east of JRND068 and will target a phengite-rich zone that corresponds with an IP anomaly and broad Au-Cu soil anomaly. The presence of phengite is indicative of a higher temperature part of the system that may represent an exposed part of a porphyry system. A study conducted by the MDRU found a strong association between phengite and gold mineralization at known mineralized zones elsewhere at Juruena, including the Crentes, Tomate and Uiliam zones, which are located proximal to Arrastro Hills South East.
Murray Paterson, P.Geo, Vice President Exploration and Development for Lago Dourado Minerals Ltd, is the Qualified Person, within the meaning of NI 43-101, who reviewed the technical data in this news release.
About the Company:
Lago Dourado Minerals Ltd. is a Canadian mineral exploration company focused on advancing its 100%-owned Juruena gold project in the state of Mato Grosso, Brazil. Extensive gold mineralization has been identified over 15 square kilometres of the property, and at least 450,000 oz of gold has been mined from surface workings. The Company has conducted systematic exploration programs over portions of the property and priority target areas will be drill tested with a Phase 2 drill campaign that is expected to be ongoing through 2013.
For further information about the company, please visit www.lagodourado.com or www.sedar.com.
This news release contains certain forward-looking statements and forward-looking information (collectively referred to herein as "forward-looking statements") within the meaning of Canadian securities laws. All statements other than statements of historical fact are forward-looking statements. Undue reliance should not be placed on forward-looking statements, which are inherently uncertain, are based on estimates and assumptions, and are subject to known and unknown risks and uncertainties (both general and specific) that contribute to the possibility that the future events or circumstances contemplated by the forward-looking statements will not occur. Although Lago Dourado believes that the expectations reflected in the forward looking statements contained in this press release, and the assumptions on which such forward-looking statements are made, are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned not to place undue reliance on forward-looking statements included in this document, as there can be no assurance that the plans, intentions or expectations upon which the forward-looking statements are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause Lago Dourado's actual performance and results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. The forward-looking statements contained in this news release are made as of the date hereof and Lago Dourado does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, except as required by applicable law. The forward-looking statements contained herein are expressly qualified by this cautionary statement.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Lago Dourado Minerals Ltd.
President and Chief Executive Officer
(416) 368-5005 or 1-855-368-5005